Category Archives: South America bitcoin news

Auto Added by WPeMatico

South America: Crypto and Blockchain News Roundup 12th to 18th January 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Brazil Is One of the Top Countries With Users Affected by Malicious Apps on the Google Play Store: A global cybersecurity giant, Trend Micro, has recently made a worrying discovery as it exposed a computer spyware called ANDROIDOS_MOBSTSPY that hides itself as an Android application and steals personal information from users of the Apps available for download on the Google Play Store.

Although this is not a malicious crypto mining scam like before, the app was found phishing for information and reportedly affected wallet services and accounts installed on the phone. The attack impacted people from 196 different countries, with Brazil ranking at the sixth place in terms of the most downloads. Some of the apps affected by the problem include Flappy Birr Dog, FlashLight, HZPermis Pro Arabe, Win7imulator, Win7Launcher, and Flappy Bird.

Brazilian Fintech Picks Ripple Over Swift for International Payments: The Brazilian fintech Remessa Online has decided to switch from the traditional Swift banking network to a much cheaper blockchain-based Ripple solution.

Ripple has recently been making waves after being adopted by international banks and financial institutions. The network has grown to over 200+ partner banks around the globe. This move will cut down the cost of sending money from $40 per transaction to approx $1.6 with no extra fee while allowing transactions to 20+ countries, which comes as a massive relief for the frequent dealers.

Brazilian Exchanges Announce That They Will Support Hard Fork in Ethereum: Almost all major Brazilian exchanges including Bitcoin Market, Bitcoin Trade, Braziliex, Foxbit, 3xBit, and Stratum CoinBr have announced their support for the hard fork on the Ethereum network and the new implementations of Constantinople. They have already started the preparations to accommodate the changes.

Although there has been a delay in the execution of hard fork, originally scheduled to take place on January 16th due to some security vulnerabilities, the Brazilian companies have still decided to add additional security measures such as suspension of withdrawals and deposits or added layers of confirmations to ensure seamless adoption when it eventually occurs.

Brazilian Association Awaits Cade’s Response to the Closure of Exchange Accounts: At the closing of the year 2018, the Brazilian Association of Cryptoactive and Blockchain (ABCB) reported a staggering growth of their membership from 2 members just eight months ago to a total of 37 associated companies.

But, any similar success in 2019 hinges on the final decision of CADE (Administrative Council for Economic Defense) on the termination of exchanges’ current accounts by large banks. The alleged malpractice was reported to CADE on ABCB’s request last September, and cryptocurrency exchange hopes that the monetary authority will follow suit of similar organizations in Korea and Chile and rule in their favor.

Exclusive: Federal Revenue Intends to Launch Digital CNPJ With Blockchain in Brazil: The Brazilian Federal Revenue Service (RFB) has announced the expansion of its research and development in the field of blockchain and has decided this year to launch a digital CNPJ, on blockchain along with bCPF.

RFB’s also elaborated that they don’t want to develop a set of products for the market but want to make the cryptocurrency activities for the stakeholders easier and more centralized. The services are expected to be initiated in the first quarter of 2019, although there is no fixed date given.

Venezuela

Venezuelan President Multiplies the Value of El Petro Cryptocurrency by Ten: President of Venezuela, Nicolas Maduro, has announced an increase of 10x in the country’s new national cryptocurrency, el Petro, to 36,000 Sovereign Bolivars while raising the minimum wage by 18,000 sovereign bolivars.

Given the hyperinflation veering towards 2,000,000% in the country, the step will hope to alleviate the crisis by increasing the minimum wage by 300%. Venezuela is looking to break the shackles of US sanctions via el petro cryptocurrency, and despite its volatility, many Venezuelans welcome and prefer Petro over the now increasingly valueless bank notes.

Venezuelan Government Giving Discounts for Property Bought With Petro: In a bid to increase the usage of their newly launched cryptocurrency Petro, Ildemaro Villarroel – Venezuela’s minister for Habitat and Housing, announced that they are offering 10% discount on all properties bought with Petro under the government’s Great Housing Mission scheme.

Although currently, only 15 local construction companies are using the state-backed digital currency,  Villarroel insisted that they are working with private companies to provide low-cost housing, with a goal of building 3 million+ houses, while using Petro for all concerned business deals.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy:BitcoinNews.com

The post South America: Crypto and Blockchain News Roundup 12th to 18th January 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 5th to 11th January 2009

South America

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Venezuela

Government protests US Petro sanctions: Venezuela has registered a formal complaint to the World Trade Organization against the US sanctions on its cryptocurrency, Petro. The South American country revealed the development of the new cryptocurrency near the end of 2017 and managed to launch it in 2018. But although it has been in use within several different industries, it has seen a stiff resistance from US lawmakers, and more significantly, by President Donald Trump, who passed an executive order to undermine Petro last March.

Given the perpetually nose-diving bolivar and the consequential spectacular economic inflation, Venezuelan strongman Nicolás Maduro sanctioned the use of cryptocurrency to collect taxes from crypto businesses in the country. But the hurdles set by the US mean that any economic relief is highly unlikely. According to Reuters, the US will now have to respond to the complaint to the WTO within 60 days; otherwise, the organization will have to decide on the complaint’s merits.

Brazil

Brazilian analyst says not possible to compare Bitcoin with tulip bubble: Bitcoin is usually contrasted with the Tulip Mania, which was an economic phenomenon during the Dutch Golden Age where tulip buds reached extraordinarily high levels and then dramatically collapsed in 1637. But Samuel Maurer, an analyst at the Bitcoin Banco Group, has dispelled this notion and claims that there is no similarity of the Bitcoin phenomenon with that event.

To justify his claim, the analyst referred to the fact that the cost to price ratio is different from the tulips and this completely differentiates the two phenomena. He also emphasized that cost of Bitcoin production always increases as the value increases, and the market crash in 2018 and the following small recovery in 2019 signifies the health and liquidity of the crypto active market and makes it impossible to be compared with the “tulip fever”.

Brazilian crypto holders seek physical vaults for storing digital assets: As counterintuitive and ironic as it sounds, Brazilian whales and cryptocurrency investors have turned to the good old iron vaults to safeguard their digital cryptocurrency assets. Crypto crimes usually comprise intricate hacking and fancy technologies but recently, there has been a surge in traditional methods of theft like banditry, extortion, and kidnappings.

This means that many Brazilian investors have started to store their wealth in rather elaborate cold storages secured by several armored and reinforced steel doors. The doors can only be accessed using biometrics of authorized persons and palm scanners reading up to 5 million individual points on the hand and the blood pressure through infrared waves.

Chile

Supreme Court validates decision to close crypto exchange’s bank accounts: TheChilean Supreme Court has backed the decision of keeping closed the account of cryptocurrency exchange Orionx with state-owned BancoEstado. The saga began earlier this year, when Chilean banks Itau Corpbanca, Bank of Nova Scotia, and Banco Estado decided to curb the cryptocurrency operations in the country by shutting down accounts of the largest digital assets platforms Crypto MKT, Buda and Orionx. An appeal in the Supreme court was filed by the crypto companies in July, but the latest decision of the apex court supporting the actions of the bank and calling crypto activities “illegal and arbitrary” spells bad news for the future of cryptocurrency in the country.

Argentina

NEM Foundation to develop blockchain-powered copyright system for journalists: NEM Foundation and CISPREN, a local trade union of journalists of the city of Cordoba, have signed a Memorandum of Understanding which will lead to the establishment of a blockchain-powered solution for copyright protection. The memorandum aims to solve problems associated with protection of intellectual property rights, including content theft, plagiarism, and royalty defaults.

The solution will allow authors to upload their content directly to the blockchain, which will create a timestamp as proof of authenticity and will also attach a unique QR code and a digital signature to each piece to serve as a proof of ownership in case of any fraudulent activities.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Bitcoin News

The post South America: Crypto and Blockchain News Roundup 5th to 11th January 2009 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 29 December 2018 – 4 January 2019

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country.

Brazil

Market Experts Declare Bitcoin a big Opportunity Despite Price Tank: Many Brazilian markets have come together and selected cryptocurrencies especially Bitcoin as one of the main trends of 2019 alongside digital banks, payment systems, and data protection. The plus point for the industry is that these other sectors are also using the core blockchain technology in many applications as well.

According to Guilherme Horne, a Ph.D. holder and market expert, the cryptocurrency sector is maturing after ten years of existence and will play a big part in the digital banking industry as well. The government of Sao Paulo referred to the immense economic opportunity being presented by cryptocurrencies as a big lure for investment and innovation in a presser while experts like Ronaldo Lemos cited the development of Artificial Intelligence as the biggest attraction for investors while blockchain and cryptocurrencies will play a major role in the future as well.

Bitmain to Close South American Office in Sao Paulo: Bitmain, the world’s largest mining chip manufacturer has reportedly decided that it will be closing its office in Sao Paulo, Brazil which is responsible for operations across the continent. While Bitmain didn’t confirm this news itself, the move may not bring an end to the mining operations in the continent as the company wants to maintain its presence in one form or another.

The office was only opened in the second half of 2018 and was intended to bring the Chinese chipmaker closer to the mining industry in South America. There is a considerable surplus amount of energy in some parts of the continent and Bitmain believed that it could be used for mining purposes. The latest move isn’t indicative of Bitmain fleeing from the continent but rather restructuring efforts that are necessary for future expansion into the market.

Brazilian Military Experimenting with Blockchain-integrated Wearables: The Brazilian Industrial Development Agency (ABDI) has recently held a competition for wearables focused for military use in the country. IBM participated with a new tool built on the HyperLedger Blockchain system that could be used for Internet of Things (IoT) for the military.

Wearables and military tech are becoming one of the primary users of blockchain technology.

Exchange and Philanthropic  Organization Partnering to Raise Bitcoin for Digital Empowerment: Coinext exchange in association with Recode is throwing a fundraiser for a noble cause which is the digital empowerment of youth in the country. The money will be donated in Bitcoin and Recode will use the money for social insertion of young people in the sector through digital empowerment.

The issue of digital inclusion of the underprivileged youth in the country is extremely important if Brazil wants to progress as a leader in tech.

Venezuela

Petro’s Usefulness Once Again Questioned: Despite repeated government pushes to enable the state cryptocurrency Petro, it is still increasingly becoming clear that the government lacks a clear consensus and strategy on how to take it forward. Right now, Petro is mandated for passport fees by the government while pensions are also being paid in the cryptocurrency.

Overall, when you look closely, Petro is becoming more of a myth rather than a stable monetary tool by the government. It is still non-transferable and the only Petro one can see is a government guarantee that there are certain amounts of Petros there. Venezuela’s botched attempt at creating a national cryptocurrency is becoming a cautionary tale for other countries, prompting Japan to declare the fiat-pegged currencies as not cryptocurrencies at all.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy:BitcoinNews.com

The post South America: Crypto and Blockchain News Roundup 29 December 2018 – 4 January 2019 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 22 – 28 December 2018

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country.

Brazil

Exchanges Looking for Mergers/Acquisitions due to the low price index of Bitcoin: Brazilian exchanges that mushroomed during the cryptocurrency boom of 2017 are looking for mergers and acquisitions with other exchanges to keep afloat due to the falling Bitcoin price index. Even though the number of investors in the cryptocurrency scene is more than the number of stock market investors in the country, the 79+ exchanges operating in the sector is quite a lot and are thus feeling the pressure.

Top executives from two big exchanges operating in the South American country – CEO of Braziliex, Luiz Calado and the Legal Director of Foxbit, Natalia Garcia, share this opinion. They believe that exchanges are rethinking their business models, considering layoffs and other cost-cutting measures. According to Garcia: “There is a lot of brokerage for sale or in search of mergers.”

Cryptocurrency exchanges are also looking for mergers to be in compliance with the newer and tougher trading laws being enacted in the country.

Crypto Awards Ceremony to Recognize Best Blockchain and Cryptocurrency Companies in the Country: A new event being organized by Criptomoedas Facil will give out awards to the best-performing cryptocurrency startups and businesses operating in the country. The competing categories will include best cryptocurrency exchange, best encryption (apart from Bitcoin), most innovative Brazilian startup and the best YouTube channel from the sector.

The winners will be selected in two stages. The first stage will include a popular vote by the Brazilian community and they can vote here. One vote can be cast for each category. Top five in each category will then be shortlisted for a more technical assessment by a specialist jury. The final announcement of the prizes will be made in the 2nd annual CriptoFacil event to be held on 23rd March 2019.

Federal Revenue Service Participating in Bitcoin and Cryptocurrency-related Event at Stanford: The Brazilian Federal Revenue Service’s (RFB) representatives will take part in a blockchain conference being organized at Stanford University, California in 2019. Their goal will be to present the government’s initiatives for reducing money laundering efforts through cryptocurrencies.

The RFB is also working on several blockchain applications for this purpose. The panel discussion will be spearheaded by Ronald Cesar Thompson, General Coordinator of Information Technology at the RFB. It will provide valuable insight into how cryptocurrency regulations are shaping up across the world in addition to the US.

Central Bank of Brazil Wants to Reduce Debts through Distributed Ledger Technology: To remove debt-related issues, the Bacen (Central Bank of Brazil) is looking to use blockchain technology. Brazil already has one of the highest interest rates in the world with the rate rising to as much as 35% in the country due to rampant inflation statistics.

Bacen is now working on 12 projects shortlisted from 79 initiatives to help reduce this considerable debt trap in the country with blockchain and Artificial Intelligence playing a big role in the proceedings.

Venezuela

Country Sees Biggest Spike in Trading Volumes on Localbitcoins.com: The worsening humanitarian crisis brewing in the South American country is seeing bitcoin trading volumes increase on Localbitcoins.com with an 11 percent rise witnessed this week alone, according to data from the world’s biggest P2P bitcoin buying/selling website.

The data is far from encouraging for the local Venezuelans as inflation reached a record 1 million% in the country. Inflation in the US alone is just 2.2 percent itself.

Argentina

Country Gets 8 New Bitcoin ATMs in 2018: Despite the government’s promises of thousands of new Bitcoin ATMs in the country, Argentina could only get 8 new ones during the outgoing calendar year. This is a sizable improvement but not at the level the government claimed it was going to be in the country. The country is now one of the fastest growing bitcoin ATM destinations in the continent.

Three new machines are expected to be installed in January of next year bringing the total number of Bitcoin ATMs to 11. However, the government has promised thousands of new Bitcoin ATMs in the country to bring it out of inflation in the near future.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post South America: Crypto and Blockchain News Roundup 22 – 28 December 2018 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 14-20 December 2018

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Brazilian Exchange Association, Bank and Industry Ministry Receive Strange Stablecoin Proposals: A new stable coin is being launched by a group called Mile Unity Foundation.  In order to lay the foundation of this project, labeled XDR, a series of proposals were set to the Security and Exchange Commission (CVM), Ministry of Industry, and the state-run Banco do Brasil for approval and oversight purposes.

The new project claims that the stablecoin is linked to Special Drawing Rights (SDR), a global monetary tool created by the International Monetary Fund (IMF) in 1969 to support reserves of member countries when needed. While there is considerable confusion and uncertainty regarding the new project, it is clear that stablecoin projects are now working with new innovative ideas to complement the current economic system with the utility of cryptocurrencies.

Brazil and Israel Closing in on Blockchain Partnership: Brazilian startups may engage with Israeli companies to provide decentralization and blockchain initiatives in the country as part of the government’s Industry 4.0 initiative. Israeli help is likely to be sought in defense, cybersecurity, urban management and innovation. The idea was presented during the announcement of the third startup connection between Israel abd Brazil.

Supermarket Chain Starts Accepting Payment in Cryptocurrencies: Brazilian supermarket chain Oasis Supermarcados has started accepting Bitcoin payments in its Rio Di Janeiro stores. Currently, the acceptance is limited to Bitcoin, Litecoin and Bitcoin Cash announced.

According to local cryptocurrency news outlet Portal do Bitcoin, the firm’s manager Douglas Andrade said:

“It’s really easy. It’s like a payment by credit card. The client says which cryptocurrency he wants to pay, the operator types in reais and the system already converts to that crypto. Then just scan the QR code and you’re done”

It is yet to be seen whether this is just a novelty move or a serious attempt at integrating cryptocurrencies into the commerce sector.

Venezuela

Pre-loaded Dash Phones Sell Like Hot Cakes: The ongoing financial crisis in Venezuela means that the penetration of cryptocurrencies is increasing, made quite evident by a company dealing in phones with pre-built Dash features, which is reporting healthy activity in the country. Dash is a borderless cryptocurrency with focus on anonymity and fast transactions.

The Dash-ready phone is called Kriptomobile and so far as many as 66,000 phones have already been sold in the inflation-struck country. The device was launched in partnership with Dash itself. Useful features include built-in wallets for Dash and other popular cryptocurrencies. The company is also promising offline cryptocurrency transactions facility to the users.

Colombia

Country Becoming the Destination for Increasing Number of Bitcoin ATMs: Colombia’s third largest city by population Medellin, saw the unveiling of the third Bitcoin ATM in the district. With the latest ATM now being operational, the total number of Bitcoin ATMs in the country is now 17.

The ATM was installed by American cryptocurrency company Athena Bitcoin. According to its Latin American director Matias Goldhorn:

“There’s more volume – more transactions and more people using cryptocurrencies for everyday things – in Colombia, though it’s picking up across the region. There are a lot of freelancers in Colombia who receive their payments in bitcoin and they use our ATMs to get their money in fiat and then there are people sending remittances to Venezuela are using them. Those are the two main users we have now in Colombia.”

Athena has also opened one Bitcoin each in Argentina and Chile with one also operating in Central American Mexico. Athena rates Colombia one of the fastest adopters of cryptocurrency in South America.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post South America: Crypto and Blockchain News Roundup 14-20 December 2018 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup, 7th to 13th December 2018

South America

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Venezuela

Government starts converting pension payments to Petro: The government of Venezuela has started converting pensioners’ payment to state cryptocurrency Petro, away from the national currency Bolivar without taking them on board. The move is part of latest measures by the Nicolas Maduro-led government to power through Petro cryptocurrency into the national fold.

According to local daily Caracas Chronicles, the country’s pensioners were notified of the move only after the funds were converted. The government’s message indicated that the funds were now in the state’s cryptocurrency for savings purposes.

According to the local publication, originally, bolivars were sent to the pensioners but the government unilaterally converted them into the allegedly oil-backed cryptocurrency.

The Venezuelan government has been trying to push for Petro adoption for months despite serious issues regarding its operation, circulation and government’s control on the affairs. Other countries and trading partners including India and Russia have also refrained from using the cryptocurrency for international payments.

Brazil

Blockchain Academy co-founder optimistic about crypto regulation: Rosine Kadamani, the co-founder of the Blockchain Academy based in Sao Paulo, has expressed optimistic views regarding the future of cryptocurrency regulation in the country.

Speaking with the local media, Kadamani said, “It is not possible to predict how this will happen in the short and medium term, as we have many variants in this process, but I can assure you that the technicians who are currently meeting (from the government and from the crypto ecosystem) are immensely qualified and very knowledgeable well the subject. The good seeds were planted, so I have a very positive view on the future of this relationship.”

Kadamani further predicted that 2019 might be a difficult year for cryptocurrencies but eventually, positive things can be expected from the industry overall in the future.

Exchange in $35 million transfer blunder: A local cryptocurrency exchange based in Brazil accidentally sent USD 35 million to a user who only requested a withdrawal of USD 127. The exchange in question is Bitcambio and the news was broken by local news outlet Portal do Bitcoin.

According to the news, the user Kaique Nunes soon received frantic calls from the exchange’s support to send back the extra USD 34.473 million.

According to Rodrigo Souza, an administrator at the exchange: “People, the mistake really happened. Kaique will be reimbursed for all the costs he has to go to the notary’s office to solve this shit. The note is already being canceled.”

Chile

Chile court says banks can ban crypto exchanges: Top Chilean court has finally ruled in favor of the state-owned Banco Estado and has declared that banks have the authority to shut down banking accounts as they see fit. The ruling overturns earlier decision by a lower court that forced the bank to open the accounts during the trial itself.

The affected cryptocurrency exchange, Orionx, had filed the complaint earlier this year when Banco Estado closed its account without prior warning. The court cited the bank’s concerns regarding its ability to monitor transactions and identities of cryptocurrency traders the reason behind this decision.

The ruling said: “These characteristics and elements determine, therefore, the current impossibility for the Bank to comply with the aforementioned obligations, since it prevents it from knowing in depth the financial activities related to cryptocurrencies developed by the appellant, the most relevant characteristics of its operations, the foundations on which these are supported and, finally, if their amounts are excessive or not.”

It is yet to be seen how the cryptocurrency market will react to the ban.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Bitcoin News

The post South America: Crypto and Blockchain News Roundup, 7th to 13th December 2018 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 30 November – 6 December 2018

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country.

Brazil

Major Crypto Events Held in Brazil: The recent month of November saw two main cryptocurrency related events taking place in Brazil including Blockmaster Forum in Sao Paulo and the Traditional Bitconference in Fortaleza. 

Both events were attended by thousands of people who were interested in understanding more about the sector and invest in it. Several leading cryptocurrency entrepreneurs made keynote addresses in the events and had interesting panel discussions.

Crypto Association to Adhere to Fintech Ethics: The Brazilian cryptocurrency exchange association ABCripto helped launch the Code of Ethics and Best Practices of the Fintech segment in association with Fintech Committee of ABStartups and Brazilian Crowdfunding Investment Association (CrowdInvest).

According to a communique from the partnership, the document is part of a new self-regulatory landscape, an idea that cryptocurrency exchanges are trying hard to legitimize in the country.

Former Nasdaq CEO Launches Blockchain Services in Brazil: Kaidi Ruusalepp, former Nasdaq CEO is aiming to launch new blockchain projects in the country including Funderbeam, a three-stage platform built for the investors.

Funderbeam is closely working with the Brazilian Securities and Exchange Commission (CVM) to start operations in the South American country.

Bitcoin Regulation Bill Postponed till 2019: The newest Bitcoin legislation bill 2303/15 authored by the Federal Deputy Aureo Ribeiro which was slated to be voted on by 5 December is now put on hold till next year.

The move was made after a recent meeting of the Special Committee of Regulation of Virtual Currencies organized by the Central bank. Eventually, the members decided to withdraw the motion and cancel the immediate vote on the matter.

It is reported that further feedback from the industry including ABCB and ABCripto associations will be considered before deciding more on the matter.

Argentina

G20 Summit Puts Greater Emphasis on Cryptocurrencies: Global leaders belonging to the top G20 group of countries have put greater emphasis on the cryptocurrency side of things during a recent summit in the capital of Argentina, Buenos Aires.

The summit was attended by global leaders as well as some of the world’s largest corporations including Bank of America, Inter-American Development Bank, The World Trade Organization (WTO) and World Health Organization (WHO).

The influential leaders especially addressed the issue of cryptocurrencies and decided to work on combined regulatory frameworks for them.

Chile

Exchange Loses Case Against Banks: In a major loss to the country’s crypto sector, cryptocurrency exchange Orionx lost the right to open accounts in the state-run bank after having them closed earlier this year.

The decision was announced by the apex court of the country despite earlier assurances that the right of the exchange to have a bank account was protected under the law. The new judgement states that the bank did not violate the rules of the constitution and thus cannot be declared unconstitutional.

Venezuela

President Nicolas Maduro Wants to Use Petro for Selling Oil in 2019: Venezuela’s national cryptocurrency project Petro is once again in the news as President Nicolas Maduro has declared that the embattled country will bypass the US sanctions by using its national cryptocurrency, Petro for oil sales starting next year.

While Venezuela’s government is still facing a host of problems in getting the prized cryptocurrency project to work, there is also the issue of lack of international adopters as both Russia and India have refused to pay in Petro for their imports.

The effort to use Petro is part of a six-year financial plan by the government to mitigate the impact of US sanctions on the country’s oil-reliant economy.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post South America: Crypto and Blockchain News Roundup 30 November – 6 December 2018 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup, 23rd to 29th November 2018

South America

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Brazil

Expert predicts Bitcoin will fall before going on bull run: With the Bitcoin price index reaching record low levels for over a year during the last few weeks, one Brazilian cryptocurrency trading expert has predicted that the Bitcoin bears will continue their run before future price consolidation.

Courtnay Guimaraes, a partner at trading company Idea Partners, believes that 2018 was largely a bear market and it will probably continue till the end of the current year because of various challenges to the sector. But despite the short-term negative outlook, Guimaraes believes that the cryptocurrency market will come out stronger than ever.

Study points out challenges for Bitcoin adoption in Brazil: According to a recent study conducted by the International Data Corporation (IDC), Brazil is still struggling to adopt blockchain technology and its applications in different sectors.

The survey revealed that a majority of Brazilian companies aren’t working with the decentralized technology and many do not intend to develop such technologies in the near future. Only a paltry 4% of the companies have made some progress in the sector according to the IDC survey while cloud applications have had 80% success rates in recent times.

While the results may not be that encouraging for the blockchain sector, this waiting position when it comes to innovation and advancement is quite common in the Brazilian sector. If the blockchain adoption becomes universal, then the local Brazilian startup should quicken the pace of adoption as well.

Athlete looking to compete in Tokyo 2020 Olympics after Bitcoin sponsorship: A Brazilian athlete looking to compete in the 2020 Summer Olympics to be held in Tokyo has successfully received sponsorship in BTC by a cryptocurrency exchange.

3xbit, a Brazilian exchange, sponsored Mikhail Luiz, a karate national champion in the 75 kg category to realize his dream. Some less popular sports are not funded properly by the government and athletes are forced to get their own sponsorships from companies to train. Luiz will become the first athlete to be sponsored with a Bitcoin exchange to compete in the Olympics.

CVM plans decentralized system of unique IDs for crypto investors: The Brazilian Securities and Exchange Commission (CVM) is looking to create a single database of the country’s cryptocurrency investors using a decentralized approach.

According to the news broken by Valor Economico, the top regulatory authority is planning to integrate the data with the Central Bank (BC) and Superintendent of Private Insurance. The project will use Microsoft Azure for the purpose. A partnership with the Institute of Technology and Society of Rio (ITS Rio) has already been signed by the regulator.

Argentina

Bitcoin ATMs plan hits snag: An ambitious plan by the government to open thousands of cryptocurrency ATMs across the country has been postponed by the government.

Two ATM companies including Odyssey group and Athena Bitcoin had announced several hundred new Bitcoin ATMs in the country but now their ambitious plans are postponed due to the interference of the central bank’s local market partners.

Cryptocurrency ATMs are likely to bring an alternative investment opportunity for Argentinians to circumnavigate rampant inflation but their lack of presence in the country may prove to be a challenge.

Venezuela

Crypto bill approved for validating Petro and its circulation: A new bill has been passed by the Venezuelan Constituent Assembly that validates the status of Petro and its regulation.

The new law with its 64 articles and five transitory positions proposed by the president himself is now officially recognized as a unit of commercial exchange.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Bitcoin News

The post South America: Crypto and Blockchain News Roundup, 23rd to 29th November 2018 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup 16-22 November 2018

South America

Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country.

Brazil

Increasing Number of Brazilians Preferring Digital Payments: A recent survey shows that Brazilians are increasingly willing to migrate to digital payments alternative. The tendency was highest among all the surveyed countries including Germany, United Kingdom, Netherlands, France, Australia, and the United States.

According to the survey by SalesForce, 9400 people were interviewed in these eight countries regarding different aspects of the digital consumer experience. 75% of Brazilians preferred allowing their preferences and personal data for a better consumer experience. 70% of them were willing to make purchases online through company websites while 52% made purchases through social media. In addition, 35% of the responders wanted a customized digital channel for offers based on their browsing activity.

Cryptocurrencies especially Bitcoin are slow in being adapted into the spectrum because of people’s reliance on the fiat currency model that has physical bank notes. With the progressive mindset, Brazilians will be more likely to adopt cryptocurrency payment solutions in the future according to the survey.

Graffiti Artist Accepting Payment in Bitcoin: Famed graffiti artist Cris Rodriguez has announced that he is now accepting Bitcoin payment for his works. The artist recently received the Art Brazil award for his exhibition where 52 artists and their 208 works were on display.

Rodriguez announced the acceptance of Bitcoin after an advice from a friend who was a cryptocurrency enthusiast. The celebrated painter who has his works exhibited in more than 30 countries is now accepting Bitcoin directly for his artworks in addition to sales at art galleries.

Brazilian Analyst Says Bitcoin could Rise 100% by the end of the Year: Brazilian cryptocurrency analyst Rodrigo Cohen has claimed that Bitcoin’s price could reach almost $13,000 by the end of the current calendar year.

Cohen pointed out to new Bitcoin ETFs as well as the entry of big players like the New York Stock Exchange, Fidelity, and Blackrock that can appreciate the price of the world’s largest cryptocurrency. However, not all of Cohen’s colleagues share this view with many predicting it between $6,000-$7,000.

Cryptocurrency Exchange Associations Send Proposals to Revenue Office: Top two cryptocurrency exchange associations in the country including ABCripto, and ABCB have forwarded proposals to the Federal Revenue Service for public consultation purposes. 

The proposals include several recommendations including lowering the cap of the minimum transaction reported to the revenue service as well as relaxation of other rules to benefit the cryptocurrency industry.

Sao Paulo Event to Showcase Switzerland’s Ethereum Dapps: A November 26 event will see specialists from Crypto Valley, Switzerland showcase their Ethereum-based dapps in the city.

The event will take place from 7-10 pm in the city and will have six lectures for six dapps already operating in the European country that are ready to use. The event is part of a bigger initiative called Blockchain on Tour.

Venezuela

Parliament Approves Crypto Bill to Help Tackle Financial Restrictions: The top legislative body of the country, the Constituent National Assembly has passed a bill of cryptocurrency regulation to combat financial sanctions imposed on the country by the US and its allies.

The law proposed by the current President Nicholas Maduro consists of 64 articles and five transitory positions. It legalizes Petro, the state cryptocurrency project of the regime within the country as well as amendments to current anti-money laundering laws. Under the new legislation, cryptocurrency exchanges are allowed to carry out foreign operations using Petro.

While Petro was officially launched by the government last month, it still struggles with adoption by trading partners, and the public because of various technical issues.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews

The post South America: Crypto and Blockchain News Roundup 16-22 November 2018 appeared first on BitcoinNews.com.

South America: Crypto and Blockchain News Roundup, 2nd to 8th November 2018

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Brazil

Pharma company launches digital innovation challenge: Pfizer, one of the largest pharmaceutical companies in the world, has announced a new entrepreneurship competition. The Pfizer Challenge aims to stimulate innovation in two categories: medical innovation and tech innovation.

Participants can register themselves for the challenge on the official Pfizer Brazil website and the event itself will take place on 4 December 2018. Blockchain startups are looking towards the tech category.

Since Pfizer is interested in the developments of blockchain technology, developers and has already announced two partnerships in DLT including one with Aimeds, an AI company and another with Genentech that uses Quorum based on Ethereum to keep fake medicines out of medical supply chains.

Tax regulator publishes draft on crypto taxation: Federal financial regulator Federal Revenue of Brazil (RFB) has published a draft on cryptocurrency taxation in the country.

In the draft paper, available on the RFB website, the monetary authority has declared that it is the duty of the cryptocurrency exchanges to send detailed reports of all cryptocurrency operations on a monthly basis to the regulator. They will even have to reveal the amount and number of transactions as well as identity of customers themselves.

All legal entities investing in cryptocurrencies in foreign exchanges are also obliged to report all transactions per month. For those who fail to report their trade, there will be a fine of up to BRL 1,500 (USD 400). The RFB could charge 3% of transactions as a fine too.

The hard-hitting measure by the regulator is not yet approved by the government but cryptocurrency advocates including the Brazilian Blockchain and Cryptocurrency Association (ABCB) may oppose these measures.

Sao Paulo restaurant to accept Bitcoin: A Sao Paulo restaurant named Casa de Porco Bar has announced that it will be accepting Bitcoin payments in a partnership with CoinWISE cryptocurrency payments platform.

According to the restaurant chef Jefferson Rueda, “Our idea is to make cryptocurrencies commonplace just like any other form of payment and thereby increase their global currency position.”

The service is easy to use and will bring many benefits to cryptocurrency holders in the city.

Ronaldinho announces new crypto in partnership with Usain Bolt: Two of the biggest names in sports Usain Bolt and Ronaldinho Gaucho have joined hands to launch a cryptocurrency asset in the market called the Champion Coin.

Other prominent personalities added to the project include Didier Drogba, Akshay Kumar and David Trezeguet. The project is based around global hygiene company Champion Shave. The aim is to tokenize the expansion of the company and record the sale of the first 100% recycled shaver on DLT.

Venezuela

Government authorizes first payment with Petro: The Venezuelan government is moving forward with the use of the controversial cryptocurrency Petro and has ordered the first sentence payment using the state-owned token.

Venezuela’s top court ordered that moral damages in a work-related case be paid in Petro or equivalent to the victim who was injured by an Agriculture Ministry Institute employee.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Bitcoin News

The post South America: Crypto and Blockchain News Roundup, 2nd to 8th November 2018 appeared first on BitcoinNews.com.